Impact of Youth Microfinance Asset’s Ownership in Masasi Districts Council Mtwara Region

Social Science

This study investigates the impact of youth microfinance asset ownership in the Masasi District Council. The study conducted at the Masasi District Council among youths who were the beneficiaries of the microfinance program. A sample of 40 respondents who were the youths benefited from microfinance and operating income-generating activities within the study area were interviewed. The data analysis conducted by using qualitative thematic content analysis techniques, tables, and graphs were used. This study assesses the impact of youth microfinance asset ownership at the Masasi district council in the Mtwara region in Tanzania. The impact of Microfinance investigated on how microfinance empowered youth economically, the impact of microfinance on the asset’s ownership of youth, and the impact of microfinance training skills on the economic empowerment of youths. The study findings indicated microfinance had an impact on improving the income, assets ownership, and improving the living standard of the beneficiaries. The finding of the study revealed that access to Microfinance enables the beneficiaries to engage in income-generating activities such as small business and agricultural activities. Most of the youth improved their business activities due to the credit and other services granted to them, and microfinance had also positively improved the knowledge and management skills of the youth due to the entrepreneurship training programs provided by Microfinance institutions. This study concludes that access to microfinance to institutions has a potential contribution to increasing the income of the youth, asset ownership, and improving the household livelihoods. Therefore, it is essential for beneficiaries (youth) to use the microfinance obtained from MFI effectively in income-generating activities to increase income and alleviate poverty among the youth. Microfinance training for the youth is recommended on entrepreneurship and business growth. It recommended the Masasi district council to facilitate the training of the youths by the community development officers to provide regular training related to microfinance and entrepreneurial business for the effective utilization of loans, financial management, market strategies, business innovation, and product added values for increasing profits in business.

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